...seems to be pro-Bush economists. Supply-side economists like Larry Kudlow have for long been even worse than liberal economists like Paul Krugman on issues like budget deficits and inflation. But this article from Thomas Nugent is among the nuttier I have read. He actually claims that budget deficits are good and should be as large as possible
No, but there is a revolution in scholarly journal publishing, reports the New York Times: A Quiet Revolt Puts Costly Journals on Web By PAMELA BURDMAN Published: June 26, 2004 When Dr. Miguel Nicolelis , a neurobiologist at Duke University, decided to release a groundbreaking study in an upstart online journal, his colleagues were flabbergasted.
We have all heard how deflation is supposed to prevent growth and create a economic depression. Yet for the latest 2 quarters Japan has outperformed the US not to mention the UK and the Euro zone with a growth rate of more than 6% at an annual rate compared to 4% in the US and even lower in Western Europe, according to the latest report . This is
While Edward Prescott was rewarded with the Nobel prize in Economics for his work on business cycles and monetary policy, he has also done some work on the issue of the effect on the effect of taxes in discouraging work efforts. And he concludes that virtually the entire difference between the United States and Western Europe in work efforts (both
It is always interesting to see to what lengths pro-Bush supply siders will go to in order to deny the existence of problems in the U.S. Economy. Just take Alan Reynolds’ latest townhall.com article . In it, he attacks those of us who believe in a housing bubble and more specifically Morgan Stanley economist Stephen Roach. First he attacks a straw
The Heritage Foundation has recently released a new Index of Economic Freedom . Yet the flaws of this index are so serious that the index cannot be taken seriously. First of all, they often use incorrect facts. They claim for example that Denmark has a 26,5% top income tax rate. The real number is 54%. But even setting aside they do not have their
Yesterday it was revealed that the US trade deficit rose sharply in November, to a record high $60.3 billion, an increase of $4.3 billion against the upwardly revised $56 billion in October and also far higher than the consensus estimate of $54 billion. And it was a sharp increase against the $40 billion deficit in November 2003. That caused the
A few days ago, the supposedly politically independent Swedish government agency Skolverket (the Agency for Education)published a report which showed that private schools are more efficent —their students perform better at lower costs— than public schools and moreover that the presence of private schools in one locality improves the efficency of
Today’s report on fourth quarter GDP came in slightly lower than expected at 3.1% annualized real growth versus average estimate of 3.5%. A sharp (10.3%) increase in business investments and a continued increase in private consumption and inventories contributed to the increase while government consumption and residential investments slowed and
The recent report on personal income and spending showed a full 3.7% increase in personal income and an even greater increase in disposable income , raising the savings rate to 3.4%. But this sharp increase was mostly due to the temporary factor of Microsofts extra dividend of over $30 billion (Excluding that the increase was only 0.5%, lower than
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
